USDCHF on Friday rose 0.6% to 0.88001. Week ending 2023-12-08 rose 1.28%. What happened.

USDCHF Analysis

Performance
PeriodPctChgMomentum
Friday0.6%52.4 Pips
Week 2023-12-081.28%111.5 Pips
December0.56%49 Pips

Upcoming key events for the new week (London Time)

Tue 01:30 PM CPI Inflation Rate (12-mth)
Wed 07:00 PM Fed Interest Rate Decision (Federal Funds Rate)
Thu 08:30 AM SNB Interest Rate Decision (Policy Rate)
Thu 01:30 PM Initial Unemployment Insurance Claims
Thu 01:30 PM Monthly Retail Trade (1-mth)

What happened over the week

🇺🇸 U.S. Nonfarm Payroll Employment in November exceed forecast and rose to 199K compared to previous figure 150K in October Source: Bureau of Labor Statistics
🇺🇸 In the week ending 02 December, U.S. Initial Unemployment Insurance Claims rose to 220K compared to previous figure 219K (revised from 218K) Source: Department of Labor
🇺🇸 U.S. Challenger Job Cuts in November rose to 45.51K compared to previous figure 36.836K in October
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 exceed forecast and rose to 5.2% compared to previous figure 4.7% in Q2 Source: Bureau of Labor Statistics
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in October below forecast and dropped to 8.733M compared to previous figure 9.35, revised from 9.553M in September Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau
🇨🇭 Switzerland CPI Inflation Rate (12-mth) in November below forecast and dropped to 1.4% compared to previous figure 1.7% in October Source: Federal Statistical Office

From X (Twitter)


What can we expect from USDCHF for the new week and what happened on Friday?

USDCHF on Friday rose 0.6% to 0.88001. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2023-12-08, the pair rose 1.28% or 111.5 pips higher.

Looking ahead on Monday, USDCHF looks bullish as the pair ended higher after Friday trading session.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.88206 or at least consolidates above Weekly Pivot level of 0.87622. On the downside, we are looking at week low 0.86658 or 0.87037 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A break above 0.88206 would suggest bullish bias after recent positive movement.

For the month of December, USDCHF is up by 0.56% or 49 pips higher.

Weekly key levels to watch out:

R30.90133
R20.89170
R10.88585
Weekly Pivot0.87622
S10.87037
S20.86074
S30.85489

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